Labour government faces worst parliamentary term for living standards in modern times, study warns
Source Summary
The Joseph Rowntree Foundation warns that Britain faces a "dire" outlook for living standards during the current Labour parliament, driven by soaring energy and housing costs. The thinktank states that the worst decline in modern times is possible unless the government takes "bold policy action". The analysis comes three weeks before John Healey's budget.
Why it matters
The analysis directly informs policy debate ahead of the government's budget and signals potential macroeconomic challenges to living standards during the current parliamentary term.
What remains uncertain
The extent to which the government will implement bold policy action and the effectiveness of any measures taken remain unspecified.
